China Jinmao Sells Sanya Tourism Stake for RMB2.26 Billion
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China Jinmao Holdings Group Limited has sold its 100% equity interest in Sanya Tourism for RMB2.26 billion, expecting a pre-tax gain of approximately RMB1.57 billion. The net proceeds, estimated at RMB2.26 billion after expenses, will be used for future investments, including land purchases and development projects. However, the company has no specific plans for material investments at this time, and the allocation of proceeds remains uncertain.
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